Underwriting Q & A’s

July 20, 2020

Underwriting Q&A: What is the waiting period in Colorado for insuring a property following a tax sale and issuance of a Treasurer’s Deed?

COLORADO A:  Nine years.  C.R.S. 39-12-104 provides that an owner of real property who was under a legal disability at the time of issuance and recording […]
July 20, 2020

Underwriting Q&A: How does a divorce affect an appointment (e.g., an agent under a power of attorney) or beneficiary designation (e.g., a devise under a will)?

TEXAS A: If a principal designates their spouse as an agent under a durable power of attorney, a subsequent divorce or annulment will terminate the agent’s […]
June 30, 2020

Underwriting Q&A: What types of identification may a notary rely upon in performing an acknowledgment notarization?

TEXAS A:            Section 121.005 of the Texas Civil Practice and Remedies Code governs the type of ID that can be accepted by the notary public. Sec. […]
April 20, 2020

Underwriting Q&A: Is an ancillary probate proceeding necessary in the State where the property is located (TX, FL, NM, AZ) when there is a foreign (out of state or another country) probate or administration?

TEXAS An ancillary probate procedure is not always required in Texas. The easiest method for handling a foreign probate (“foreign” is defined as any State in […]
December 17, 2019

Underwriting Q&A: Is a title company responsible for obtaining and paying for services at a closing settlement to assist customers with disabilities?

Q: Is a title company responsible for obtaining and paying for services at a closing settlement to assist customers with disabilities? Answer: Yes. The Americans with […]
November 15, 2019

Underwriting Q&A: What in the world is PACA and PSA?

Q: What in the world is PACA and PSA? A: “PACA” refers to the Perishable Agricultural Commodities Act, while “PSA” refers to the Packers and Stockyards […]
July 25, 2019

Underwriting Q&A: If the subject property is the seller’s homestead, can I remove the abstract of judgment against the seller (debtor) from the Commitment?

Q: If the subject property is the seller’s homestead, can I remove the abstract of judgment against the seller (debtor) from the Commitment? A: Texas– No. […]
June 20, 2019

Underwriting Q&A: Rollback taxes and supplemental taxes – TEXAS

Q: Are “AG” rollback taxes the only type of rollback tax that can be assessed for the collection of prior years’ ad valorem taxes and are […]
May 28, 2019

Underwriting Q&A: If the current seller was awarded the property in a divorce proceeding, do we need to worry about a federal tax lien recorded against the ex-spouse post-divorce?

Q: If the current seller was awarded the property in a divorce proceeding, do we need to worry about a federal tax lien recorded against the […]